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#1
November 3rd, 2014, 10:38 AM
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 IRDA Exam for Insurance Agent
Can you tell me in detail about IRDA (Insurance Regulatory and Development Authority) Exam as I want to join as an Insurance Agent?
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#2
November 3rd, 2014, 12:02 PM
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| Re: IRDA Exam for Insurance Agent
IRDA or Insurance Regulatory and Development Authority Exam also known as LIC Agent Exam is conducted by Insurance Institute of India on India level for recruitment of Insurance agents in insurance companies. IRDA Exam Eligibility Educational Qualification Candidate interested to take IRDA exam should be 10+2 from a recognized school/board. Age Candidates aspiring to take IRDA Exam should not be below 18 years of age however there is no upper age limit for taking IRDA Exam for becoming an LIC agent. IRDA Exam Syllabus The Syllabus of IRDA Exam comprises subjects questions related to Insurance, loans, regulations and their general application. However there can be some questions of numerical problems like percentage, discount and loan calculation etc. IRDA Exam Pattern IRDA Exam consists of short answer type question of the form of: Fill Ups Yes – No Right –Wrong Match the Column Multiple choice Answers IRDA Exam Fee IRDA Exam fee for each entry form is Rs.200 (Rs.400 for Life & General Insurance) Insurance Agent Applicant undergoes 100 hours of classroom training by Insurance Company based on the IRDA syllabus. After completion of training one need to appear for the exam conducted by the IRDA. One should have pass the 12th Exam from a recognized Board Age: Minimum 18 years
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#3
November 4th, 2015, 09:59 AM
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| Re: IRDA Exam for Insurance Agent
Hey buddy I’m preparing for the IRDA Insurance Agent exam paper for that will you please get the exam paper so that I can go thorugh it easily?
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#4
November 4th, 2015, 10:00 AM
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| Re: IRDA Exam for Insurance Agent
As per your demand I will help you here to get the IRDA insurance Agent exam paper so that you can solve the paper easily and score well in the main exam paper. Here is the exam pape of IRDA Insurance Agent please have a look Modeltestpaper1 1.Theprocessofdeterminingiftheclaimcanbepaidiscall ed——— a) admission b) acceptance c) consideration d) decision 2.Whatcriteriaarerelevanttocomparedifferentsavings plan? a) Safety b) Liquidity c) Yield d) Alloftheabove 3.Thelimitsofdoctorsformedicalexaminationaredecide dby————- a) Insurer b) MedicalCouncil c) Government d) IRDA 4.Thequestionsintheproposalformandpersonalstatemen tarematerialandrelevant a) withoutexception b) mostly c) onlypartly d) rarely 5.Whichofthefollowingstatementsare“TRUE”? StatementA:Apaiduppolicycanberevived. StatementB:Theinsurermayrefusetoissueanewpolicyifa nearlieroneispaidup. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 6.Towhomshouldlicensebepaid? a) ControllerofInsurance b) Theinsurer c) TheIRDA d) Anyoftheabove 7.Aproposalisdated10.11.2000.Thepremiumwaspaidonth esameday.Thedecisiontoacceptwithextrawasmadeon15.1 1.2000.Theextrapremiumwaspaidon17.11.2000.Thelette rofconsentwasreceivedintheofficeon21.11.2000.Whend oestheriskonthispolicycommence? a) 10.11.2000 b) 17.11.2000 c) 20.11.2000 d) 15.11.2000 8.Whichofthefollowingstatementsare“TRUE”? StatementA:The principle of utmost good faith is the same as the principle of Buyers beware StatementB:Theexistenceofhighbloodpressureneednotb edisclosedasthedoctorcanfindthisoutduringthemedica lexamination. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 9.————–arestatementsmadebytheprospectrai singdoubtsabouttheusefulnessoftheinsurance. a) Objections b) Refusals c) Queries d) Disagreements 10.Inwhatplanofinsuranceismedicalexaminationneverr equired,whateverbetheamountofSumassured? a) Endowment b) Pureendowment c) Termassurance d) Groupinsurance 11.Thelimitsofauthorityofanagentarelaiddownbythe ———- a) InsuranceAct b) ContractAct c) AppointmentLetter d) Noneoftheabove 12.Whichofthefollowingstatementsare“TRUE”? StatementA:Thenecessityforamedicalexaminationdepen dsonlyontheSumassured. StatementB:Thenatureofemploymentmaybeafactortodisp ensewithmedicalexamination. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 13.———–describesthebehaviourofanagentwhois willingtoacceptthataparticularcustomer maynotneedlifeinsurance a) Defeatist b) Timid c) Professional d) Nonprofessional 14.Section45oftheInsuranceActisrelevantforpolicies whichareatleast———yearsold. a) Two b) Four c) Bothstatements d) Neitherofthestatements 15.Whichofthefollowingstatementsare“TRUE”? StatementA:Inagrouppolicy,eachpersonisfreetochoose theamountofinsurancecover. StatementB:Aperson,normallyuninsurable,canbecovere dunderagroupinsurancepolicy. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 16.Infimitiesarecausedby————– a) Rs.3lakhs b) Rs.10lakhs c) Rs.13lakhs d) Noneoftheabove 17.Ifaperson’sannualincomeisRs.3lakhsandhehasass ets(properandshare)worth10lakhshecanbegivenamaximu minsurancecoverof————- a) Rs.3lakhs b) Rs.10lakhs c) Rs.13lakhs d) Noneoftheabove 18.Whichofthefollowingstatementsare“TRUE”?Stat ementA:Whenapolicymatures,theclaimproceedsarepaidt otheassured. StatementB:Ininsurance,theprincipleofbuyerbewareap plies. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 19.Thebehaviourofanagentwhomakescriticalmarksabout hiscompanyis————- a) Clever b) Non-professional c) Professional d) Efficient 20.Bringingapolicy,whichhaslapsed,backtoforceiscal led————– a) Recovery b) Revival c) Renewal d) Elapse 21.Whichofthefollowingstatementsare“TRUE”? StatementA:Theproposalformshouldbewrittenbytheagen thimself. StatementB:Theproposalformshouldbefilledbythepropo nenthimself,unlessheisilliterate. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 22.Disablitybenefitsmayarisebecauseof————- a) Sickness b) Oldage c) Lossoflimbs d) Anyoftheabove 23.———–isthepersontowhomthepolicyistransfe rredinlieuofsomeconsiderationreceived. a) Nominee b) Mortgagor c) Beneficiary d) Assignee 24.Whichofthefollowingstatementsare“TRUE”? StatementA:Incaseofcorporateagent,onlytheChiefExec utivehastopasstheprescribedexamination. StatementB:Apersonwhoisconvictedofcheatingcangetan agencylicenseassoonasheisreleasedfromjail. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 25.Aperson’sinsurableinterestinterestinhisownlif eis————- a) Unlimited b) 10timeshissalary c) Agentsmanual d) Alloftheabove 26.Anagentissubjectto————- a) IRDAregulation b) Termsofappointment c) Agentsmanual d) Allofabove 27.———–describesthebehaviourofanagentwhois inthepresenceofoutsiders,coversupthemistakesmadeby hiscollegues. a) selfconfident b) protective c) arrogant d) professional 28.Whatispaidbytheinsurerwhenthepolicyholderdecide stodiscontinuethepolicy? a) Surrendervalue b) Intermediateclaim c) Lapse d) Forfeiture 29.Whichofthefollowingskillisrequiredtoinfluenceth eotherpersontodosomething? a) Salesmanship b) Communication c) Analytical d) Persuasiveness 30.———–istheprofessionalwhoisthetechnicale xpertonlifeinsurancematters. a) Underwriter b) Accountant c) Evaluator d) Actuary 31.Iftheproponenthasnoinsurableinterestintheinsure d,theunderwriterwill———– a) acceptthelien b) acceptwithextrapremium c) declinetheproposal d) acceptwithreducedSumassured 32.Thedeductionallowedinincometaxbecauseofamountsp aidtowardslifeinsurancepremiumProfidentfund,etcisc alled————– a) Concession b) Decuction c) Reduction d) Rebate 33.Whichofthefollowingstatementsare“TRUE”? StatementA:Theunderwritertriestopreventanyundueadv antagebeingtakenbyprospect StatementB:Theunderwriterisatrusteeofallpolicyhold ers a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 34.———–describesanagentwhokeepsrecordsofhi sactivitiesandexaminesthemperiodically. a) Analyst b) Professional c) Nonprofessional d) Meticulous 35.———–meansthebusinesswherein,personsfaci ngthesameriskarebroughttogethertocreateafundfromwh ichthosesufferinglossesarecompensated. a) Insurance b) MutualFund c) Banking d) Security 36.Termassuranceisnotsuitablewhentheneedistoprovid efor———– a) oldage b) repaymentofoutstandingloan c) mortgageredemption d) anyoftheabove 37.FinalorTerminalbonusispayable————- a) Ondeath b) Onsurrender c) Onmaturity d) Alloftheabove 38.Whichofthefollowingstatementsare“TRUE”? StatementA:AninsuranceagentmaybesuedunderConsumerp rotectionact StatementB:TheConsumerprotectionactdoesnotapplytog overnmentcompanies. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 39.Whatiscalledthereverseof‘LifeInsurance’? a) Loan b) Surrendervalue c) Annuity d) Noneofabove 40.Apolicyinwhichthepaymenttotheannuitantbeginsaft eroneyearandispayablethereafterannually] iscalled———–annuity. a) immediate b) annual c) deffered d) one-year 41.Theprocessofrecordingthecorrectageofpersoninsur ediscalled———- a) Ageadmission b) Verifications c) Proofofage d) Certification 42.Apolicywhichhasrunfor8yearscanbecalledintoquest ionifthereis———– a) Misrepresentation b) Fraud c) Mistake d) Noneoftheabove 43.Whatarethecriteriaofagoodsavingplan? a) Safety b) Liquidity c) Yield d) Allofabove 44.IncaseofpolicyundertheprovisionofMarriedWomen sPropertyAct,whocanmakeadeathclaim? a) Beneficiaries b) LifeInsuredHEIR S c) Trustee d) Anyoftheabove 45.Theskillrequiredtoexplaininamannerthattheotherp ersonunderstandsis———– a) Persuasiveness b) Explanatory c) Convincing d) Communication 46.Thereductionpermittedinthetabularpremiumdependi ngonthemodeofpremiumorSumassurediscalled——— - a) Reduction b) Rebate c) Incentive d) Concession 47.Loansunderaninsurancepolicyarerepayable—— — a) Inalumpsum b) Byadjustmentwithclaim c) Ininstallments d) anyoftheabove 48.Whichofthefollowingstatementsare“TRUE”? StatementA:Proofofageisnecessaryonlyforproposalsfo rinsurance,notforagencyapplications. StatementB:Afterthebusinessiscomplete,theagenthasn ofurtherrole. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 49.ThematurityproceedsincaseofapolicyfinancedbyHUF willbepaidto———- a) karta b) lifeassured c) nominee d) noneofthese 50.Whendoesforeclosureactionbegin? a) Whenpremiumisnotpaid b) Whenpolicyissurrendered c) Whenloanandinterestaccumulate d) Alloftheabove 51.Whichofthefollowingstatementsare“TRUE”? StatementA:Apaiduppolicywillbeentitledtobonus. StatementB:Thelifetobeinsuredmustbeinperfecthealth . a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 52.Aduplicatepolicymaybeissued,whenoriginalhasbeen ————- a) Burnt b) Stolen c) Mutiliated d) Alloftheabove 53.Theattachmenttoapolicytoindicatethatthestandard policytermsandconditionshavebeenmodifiediscalled ———– a) clause b) endorsement c) rider d) condition 54.Whichofthefollowingstatementsis“TRUE”? StatementA:Whenapersondies,noexpenseisincurredonhi m. StatementB:Lifeinsurancehelpstoensureadecentburial orcremationondeath a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 55.Iftheclaiminquestionis23lakhs,whichconsumercour twillheartheapplication? a) StateLevel b) NationalLevel c) DistrictLevel d) Noneofabove 56.Whichinformation,ifnotdisclosed,cannullifythepo licy? a) Critical b) Valid c) Material d) Important 57.Theagentsreporttotheinsurershouldinclude—— -facts. a) Favorable b) Unfavorable c) Neither of the above d) Bothoftheabove 58.Whichofthefollowingstatementsare“TRUE”? StatementA:Insuranceisrelevantonlyifthereispossibl eeconomicloss. StatementB:Anevent,whichwillcertainlyhappencannotb einsuredagainst. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 59.Whichofthefollowingstatementsare“TRUE”? StatementA:Apolicywhichhasbeeninforcefor10yearscan becalledintoquestionformisrepresentation StatementB:Apolicywhichhasbeeninforcefor10yearscan becalledintoquestionforfraud. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 60.Whichofthefollowingstatementsare“TRUE”? StatementA:Insurancecompaniescomeunderthepurviewof theConsumerProtectionAct. StatementB:Thejurisdictionofconsumerforumdependson thevalueofclaim. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 61.Whichriskiscoveredbyannuity? a) Accident b) Livingtoolong c) Sickness d) Death 62.Whichofthefollowingstatementsare“TRUE”? StatementA:Insuranceispossibleonlyiftheeventconcer nedhappensbyrandom. StatementB:Thecauseof“loss”iscalledperil. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 63.Theauthorityofanagentis———– a) Specifiedintheappointmentletter b) Inferredfromhisaction c) Verballycommunicated d) Alloftheabove 64.Whichofthefollowingstatementsis“TRUE”? StatementA:Thefactofhavingbeenonsickleavemustbedis closed,eveniftherewerenosicknessandcertificateofsi cknesswasfalse. StatementB:Most plans of insurance area combination of two basic plans. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 65.Thebonuswhichattachestothepolicyimmediatelyonde clarationiscalled———-bonus a) Final b) Immediate c) Terminal d) Reversionry 66.Whichofthefollowingstatementsis“TRUE”? StatementA:Thepremiumunderagroupinsurancepolicyisc onstantforalltimetocome. StatementB:Section45oftheinsuranceactdoesnotapplyt oaoneyearpolicy. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 67.Whichofthefollowingstatementsare“TRUE”? StatementA:Section45oftheinsuranceactappliesalsoto paiduppolicies. StatementB:Section45oftheinsuranceactdoesnotapplyt oaoneyearpolicy. a) OnlystatementA b) OnlystatementB c) Bothstatements d) Neitherofthestatement 68.Inaninsurancepolicy,theamountpayableondeathmayb etheamountpayableonmaturity a) sameas b) morethan c) lessthan d) anyoftheabove 69.————-meansthemarketinwhichanagentchoosestooperate. a) Segment b) Target c) Area d) Section 70.Whichoftheapproachesoftheagentisappropriate? ApproachA:Anagentinsistedthatallhispolicyholderssh ouldsendthepremiumchequetohim,sothathecouldensuret hatdelaysdidnothappenthroughoversight. ApproachB:Theagenthadthehabitofgreetingallhispolic yholdersinthesametown,ontheirbirthdaysandgivethema ttractivepresents. a) onlyapproachA b) onlyapproachB c) boththeapproaches d) Neitheroftheapproach 71.ApproachA:Anagentusedtopersuadehisprospects,who weremainlysalariedemployeesatthemiddlemanagementle vel,thattheyshouldtakeoutpoliciesundertheMWPact. ApproachB:AnagentsellingmostlySalarySavingsSchemep oliciesintheengineeringfactoriesusedtocanvassthemo nthebasisofIncomeTaxadvantages. a) onlyapproachA b) onlyapproachB c) boththeapproaches d) Neitheroftheapproach 72.ApproachA:Whenaprospectwantedtoknowwhattheagent wouldgetoutofthesaleofinsurance,hejustgavehimaxero xcopyofhisappointmentletter. ApproachB:Whenaprospectwantedtoknowwhattheagentwou ldgetoutofthesaleofinsurance,hesaidthatthatwasacon fidentialmatter. a) onlyapproachA b) onlyapproachB c) boththeapproaches d) Neitheroftheapproach 73.ApproachA:Whentheprospectsaidthathehadtakensick leaveforafewdaysbecausehewantedtogooutstationforan interview,theagentsuggestedthatheneednotmentionit. ApproachB:Theagentsuggestedtotheprospectnottomenti onthefactthatthecauseofdeathofoneofhisbrother’sw hohaddiedyoung,wascardiacarrest.Itwasmentionedas Accident’ a) onlyapproachA b) onlyapproachB c) boththeapproaches d) Neitheroftheapproach 74.Calculatepremiumfromfollowingdata Dateofcommencement:1.1.1992 Dateofbirth:15.4.1961 Tabularpremiumforendowmentplanwithprofit Forage31–Rs.41.50 Forage32–Rs.41.65 Forage33–Rs.41.80 Sumassured–Rs.1,00,000 Mode–Yearly Proposalisacceptedatordinaryrateswithoutaccidentbe nefits RebateforsumassuredisRs.2perthousandperannum.Rebat eforyearlymodeis3%anddoubleaccidentbenefitisavaila bleatRe.1perthousandsumassuredperannum a) Rs.4,165 b) Rs.3,825 c) Rs.3,965 d) Rs.3,840 75.Fromthefollowingparticulars,calculatepaidupvalu e: Sumassured:Rs.50,000 Plan:Endowmentwithoutprofit Term:20years Dateofcommencement:19.02.1994 LPP–yearly:14.02.2000 a) Rs.50,000 b) Rs.15,000 c) Rs.18,000 d) Rs.17,500
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